Mexico to invite bids for new oil refinery

Bidding documents to build the first new refinery in Mexico in decades could be released as soon as next week, Mexican Energy Minister Rocio Nahle said during a visit to Houston.

Speaking at CERAWeek by IHS Markit on Wednesday afternoon, Nahle said Mexico has a “severe dependence” on foreign fuels and now imports 80 percent of its gasoline and diesel.

Appointed by President Andres Manuel Lopez-Obrador and taking office in December, Nahle said the administration’s goal is to increase production at six aging refineries owned by Mexico’s state-run oil company Pemex and to build a new refinery that will process up to 340,000 barrels of crude oil per day, the Houston Chronicle reports.